• Gold: 1,260.97 5.17
  • Silver: 16.12 0.08
  • Euro: 1.178 0.003
  • USDX: 93.708 -0.224
  • Oil: 57.23 -0.03

November 14: Gold Gains While Stocks Fall

Chris Mullen
|
Tuesday, November 14th

 

Close

Gain/Loss

Gold

$1280.30

+$2.70

Silver

$17.02

-$0.01

XAU

80.00

-0.51%

HUI

185.91

-0.12%

GDM

626.27

+0.14%

JSE Gold

1419.58

-56.19

USD

93.84

-0.65

Euro

117.94

+1.26

Yen

88.27

+0.14

Oil

$55.70

-$1.06

10-Year

2.373%

-0.024

T-Bond

152.9375

+0.53125

Dow

23409.47

-0.13%

Nasdaq

6737.87

-0.29%

S&P

2578.87

-0.23%

 
http://www.goldseek.com/news/2017/2017-11-14_14-04-56.jpg

 

The Metals:

 

Gold dropped $6.80 to $1270.80 in Asia before it rebounded to $1276.30 in London and then fell back towards its earlier low after this morning’s PPI data was released, but it then jumped to as high as $1283.60 in afternoon New York trade and ended with a gain of 0.21%. Silver rose to as high as $17.088 and ended with a loss of 0.06%.

 

Euro gold fell to about €1086, platinum lost $6 to $923, and copper dropped 6 cents to about $3.07.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Services boost U.S. producer prices; underlying inflation firming  Reuters

White House Is Considering El-Erian as Fed Vice Chair: DJ  Bloomberg

Top Central Bankers Say Forward Guidance Will Stay as a Policy Tool  Bloomberg

Subprime Auto Delinquency Is Near Crisis Levels at Non-Bank Lenders  Bloomberg

 

Tomorrow brings CPI, Retail Sales, the Empire State Manufacturing Survey, Business Inventories, and Treasury International Capital.

 

The Markets:

 

Oil fell almost 2% after the IEA “said the recent recovery in oil prices coupled with milder-than-normal winter weather is slowing demand growth.”

 

The U.S. dollar index dropped to a 3-week low and treasuries rose as the Dow, Nasdaq, and S&P traded notably lower at times on concerns about tax reform.

 

Among the big names making news in the market today were GE, Tesla, and Buffalo Wild Wings.

 

GATA Posts:

 

 

Jan Skoyles: ECB study proposes ending bank deposit insurance

Contrast with other asset prices reveals gold market rigging, Murphy says

 

The Statistics:

As of close of business: 11/13/2017

Gold Warehouse Stocks:

8,676,238.163

-21,364.844

Silver Warehouse Stocks:

230,473,196.315

+315,482.946

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

843.387

27,115,733

US$34,556m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,685m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$6,281m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$459m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.295 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 237.30: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,893.21: No change from yesterday’s data.

 

The Miners:

 

Eldorado’s (EGO) exploration update, Entrée’s (EGI) third quarter results, and Avino’s (ASM) Permit Amendment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM+5.08% $1.29

2.  DRDGOLD

DRD +1.98% $3.61

3.  Paramount

PZG +1.67% $1.21

 

LOSERS

1.  Taseko

TGB -7.21% $2.06

2.  Northern Dynasty

NAK -5.24% $2.17

3.  Gold Standard

GSV -5.23% $1.45

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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